Welcome to “Top 5 Cryptocurrency Movers” where I look at all the major crypto coins on the market and choose the five that made the biggest move (either positive or negative) on this day, explaining my thoughts why the move happened, as well as the historical significance of the particular crypto. Here are my top five cryptocurrency movers for January 10, 2021:
#5: Bitcoin (BTC) ($37,251.33, -9.65%)
For the first time in 2021, Bitcoin had a major losing day, falling over $4,000 and nearly 10 percent. Investors are starting to take profits after BTC reached a peak of $41,900 two days ago. While the future of Bitcoin is uncertain, many experts are having conflicting opinions about where the oldest and most popular cryptocurrency is heading. Bank of America chief investment strategist Michael Hartnett thinks the recent surge in price for Bitcoin is “the mother of all bubbles” and will have a “violent” drop.
#4: Dash (DASH) ($138.87, +19.97%)
The three major privacy coins (Dash, Monero, and Zcash) had huge positive gains today, with DASH leading the way, up almost 20 percent. The anonymity of the crypto and the fact that none of the transactions can be traced have been both seen as good and bad. For one, there are people who would rather stay anonymous and not have to deal with regulations, but on the other hand, it might encourage illegal activities. The U.S. based crypto exchange Bittrex already announced they are delisting the three most popular privacy coins, effective January 15.
#3: NEO (NEO) ($24.42, +7.91%)
NEO, the smart contract platform that supports applications with the aim of building a distributed network-based smart economic system, rose about 8% and was one of the top cryptocurrency gainers today. NEO is different from other blockchain platforms because it is focused on being regulatory-complaint, with every digital identity on the platform needing to be verified. There have been rumors that the crypto would be accepted in China, where regulations are much stricter than anywhere else in the world.
#2: EOS (EOS) ($2.95, -21.06%)
EOS dropped more than 20 percent on news that Dan Larimer was leaving Block.one, the company behind the EOS blockchain. Larimer was the Chief Technical Officer (CTO) of the company since April 2017, and the reason for the leave was because of a censorship about freedom of speech. EOS is a blockchain system that allows hosting and development of decentralized applications on its platform, but the performance of the crypto has been lagging behind other coins, with EOS price not showing any growth in the last year.
#1: Horizen (ZEN) ($21.50, +34.38%)
Today’s biggest cryptocurrency winner was Horizen, earning 34 percent! ZEN is categorized as an inclusive ecosystem built on a scalable blockchain platform that rewards users for their contributions and production. Horizen is a privacy coin, although not as well known as the main three, but it is a fork of Zclassic, which was a fork of Zcash. ZEN provides full secure and private tools to those that use the platform.
Note that these prices are as of 9:00 PM EST/6:00 PM PST on the given day, and might not reflect the current price of the coin at the time of viewing this post.
